Funding arb · Price arb /

LLY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0275%/8h= −30.1% APRpaid last 24h −0.084%

Price spread now: Gate against Phoenix+0.030%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Gate is 0.030% dearer against Phoenix than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LLY	1,163.6	0.0275	pay 0.0034% / 1h	55m 00s	$1K	$7K	10x
Short	Gate LLY_USDT	1,164	0	get 0.0000% / 8h	3h 55m	$1.3M	$852K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee GatebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$57.73
Price spread: +0.030% → 0.000%: $3.01
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$76.72
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	9.11 bp	63.6 bp −$64	doesn't fit	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

LLY on 19 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LLYUSDT	0.0000%	8h	1,163.7	+0.008%	$24K	$3K	20x	as long as short
Bybit LLYUSDT	0.0000%	8h	1,163.2	−0.036%	$1.3M	$523K	25x	as long as short
OKX LLY-USDT-SWAP	0.0000%	8h	1,163.6	0.000%	$789K	$645K	20x	as long as short
Gate LLY_USDTshort	0.0000%	8h	1,164	+0.030%	$1.3M	$852K	25x
Bitget LLYUSDT	0.0000%	8h	1,164.1	+0.046%	$2.3M	$169K	20x	as long as short
Variational Omni LLY	0.0000%	8h	1,164.3	+0.063%	$192K	$17K	—	as long as short
SunX LLY-USDT	0.0000%	8h	1,164.5	+0.077%	$1K	$5.8M	10x	as long as short
HTX LLY-USDT	0.0000%	8h	1,162.3	−0.110%	$5K	$41K	20x	as long as short
BloFin LLY-USDT	+0.0004%	8h	1,164.3	+0.062%	$84K	$85K	20x	as long as short
Binance LLYUSDT	+0.0012%	8h	1,164.3	+0.062%	$2.0M	$3.1M	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps LLYUSD	+0.0027%	1h	1,163.5	−0.009%	$47K	$41K	5x	as long as short
GRVT LLY_USDT_Perp	+0.0038%	8h	1,164.2	+0.052%	$221	$185K	10x	as long as short
QFEX LLY-USD	+0.0042%	1h	1,164.4	+0.069%	$1.2M	$4.1M	10x	as long as short
Vest LLY-USD-PERP	+0.0046%	1h	1,162.8	−0.072%	—	—	25x	as long as short
KuCoin LLYUSDTM	+0.0100%	8h	1,163.8	+0.017%	$137K	$74K	20x	as long as short
tradeXYZ xyz:LLY	+0.0203%	1h	1,163.4	−0.017%	$8.7M	$1.2M	10x	as long as short
Injective LLY/USDC PERP	+0.0220%	1h	1,176.3	+1.091%	$7K	$24K	12x	as long as short
Phoenix LLYlong	+0.0275%	1h	1,163.6	long leg	$1K	$7K	10x
Nado LLY-PERP	+0.0536%	1h	1,162.4	−0.105%	$39K	$251	10x	as long as short